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  • Commercial Property & Auto Insurance in Belleville IL

    December 22, 2020 | Blog
  • Common Belleville Illinois Commercial Property Insurance Exclusions

    Having commercial property insurance can save you from paying tens of thousands for repairs, but it’s important to understand what is and isn’t covered, so you don’t end up paying out of pocket. If you want to get a better understanding of your Belleville, IL, commercial insurance, this is what you need to know about insurance exclusions.

    Flood/Earthquake Damage

    As is the case with regular homeowners insurance, flood and earthquake damage isn’t covered under a typical commercial property insurance policy. If you want flood and earthquake coverage, you’ll have to buy separate policies for them.

    Earthquake damage

    Equipment Breakdowns

    One thing you might not think about with commercial property insurance is that it doesn’t cover everything inside your building. Something a lot of business owners don’t consider is that you also need to purchase commercial insurance for equipment breakdowns.

    The exception to this is when equipment is damaged as a result of a fire or some other type of peril your insurance covers. If that’s the case, your broken equipment will be covered.

    Auto Accidents

    Just because you have great commercial insurance in terms of your property doesn’t mean you’re covering all your assets. If you use vehicles for your business, you should know that accidents involving those vehicles aren’t covered under your property insurance.

    Auto Insurance

    Having fleet insurance is one of the most essential parts of running a business if you have commercial vehicles. Not only can you save yourself a lot of money on auto repairs, you won’t be liable for property damage caused by accidents.

    Other Exclusions

    Aside from these situations, there are also certain types of property that are excluded under commercial property insurance. For example, money, security, accounts, and bills aren’t covered. Land, piers, docks, and wharves aren’t covered either. The same is true for paved surfaces, as well as crops, hay, and grain that are outside of your building. Understanding these exclusions helps you determine what types of additional coverage you need.

    Running a business isn’t easy, especially when you consider how much-unexpected perils can cost. The best thing you can do for yourself is to make sure you have the coverage your business needs at all times. To find out more about properly insuring your business, call an agent at KMK Insurance today.